The Future Fund and QIC have reached financial close for an interest in the EastLink toll road network sold by New Zealand Superannuation Fund and Teachers Insurance and Annuity Association of America, advised by its investment adviser Nuveen Infrastructure.
The transaction comprises a 19.8 percent interest in Connect East Group, owner of the largest toll road network in Victoria, with a 39-kilometer (24.2-mile) toll road (EastLink) and a 1-kilometer (0.6-mile) bypass (Ringwood Bypass).
EastLink is the only major north-south transport artery in Melbourne’s east, connecting the Eastern, Monash, Peninsula Link and Frankston freeways. An average 250,000 vehicles, including 50,000 commercial vehicles use the toll road daily.
The Future Fund, Australia’s sovereign wealth fund, has a long track record of direct investment in Australian infrastructure, including significant interests in some of Australia’s largest transport assets.
The fund takes an active
